Carrefour - Short Term - We look to Buy a break of 18.15 (stop at 17.62)
Posted a bullish Flag formation. A break of 18.00 is needed to confirm the outlook. 20 1day EMA is at 17.30. The stock is expected to outperform in its sector. 17.50 continues to hold back the bears.
Our profit targets will be 19.99 and 21.10
Resistance: 18.50 / 20.00 / 22.00
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CA is approaching our first resistance at 17.16 (horizontal overlap resistance, 61.8% fibonacci extension, 61.8% fiboancci retracement, descending channel's resistance) where a strong drop might occur pushing price down to our major support at 15.32 (horizontal overlap support, 61.8% fiboancci retracement).
Stochastic (21,5,3) is also approcaching resistance...
